Office
Features and description
- Four storey
- Office Block
- Generating £32,000 per annum
- Premier business location
- 130 Car Parking Spaces
We are pleased to offer to auction the four storey freehold office block.
The property is being offered fully tenanted and is generating £32,000 per annum, further details can be found in the legal pack.
Teesdale is Tees Valley’s premier business location providing a mixed-use development that has successfully attracted a number of national and regional occupiers. Teesdale is accessed via the A66 and A19 trunk roads, which link to the nation’s transport network with the A1(M) (J57) being located only 4 miles west. In addition, Durham Tees Valley Airport is located 9 miles south west along the A66.
Rooms
Location
Stockton-on-Tees is situated approximately 250 miles north of London, 58 miles north of Leeds and 35 miles south of Newcastle upon Tyne. The town is an important sub-regional centre and is a major focus for retail and leisure activity in the area.
Stockton is positioned at the intersection of the A19 and A66 Trunk Road, which
provide easy access to the A1(M), approximately 15 miles to the west. Travelling via the A19, it is possible to connect to Leeds, York, Durham and Newcastle within one hour’s drive time.
Accomodation
Briefly comprising a 16,800 sq ft detached office building split over our floors with 130 car parking spaces.
Tenure
Freehold. Title number: CE233263
Income
The property is being sold subject to two lease, Coshabang (Richard House) Ltd have signed up to a 25 year FRI lease at an initial rent of £27,000 pa with 5 yearly RPI increases with a minimum of 5% increase, Coshabang then sublet individual office units to small businesses. Additionally Instavolt have a 30 year lease for 4 x electric charging car charging points and generates an additional £5,000 pa giving a total annual income of £32,000, further details can be found in the legal pack.
Rateable Value
Further details can be found via VOA's website:
EPC
Available Upon Request (Rating C).
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